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Goodwill
6 Months Ended
Jun. 30, 2012
Goodwill

4. Goodwill

 

The Company tests its goodwill for impairment annually in the fourth quarter, and whenever events or changes in circumstances indicate that the carrying value may exceed its fair value.

 

The changes in the carrying amount of goodwill by reporting unit for the six months ended June 30, 2012 were as follows:

 

          Currency              
    December 31,     translation     Other     June 30,  
In thousands   2011     adjustments     adjustments     2012  
Performance Materials   $ 13,399     $ (104 )   $ 63     $ 13,358  
Other Products and Services     4,660       -       -       4,660  
Total goodwill   $ 18,059     $ (104 )   $ 63     $ 18,018  

 

Other adjustments relate to contingent consideration owed to the seller of DSM Solutech B.V. (“Solutech”) which was acquired by the Company in December 2008. Consideration equals 4.0% of Solutech’s net revenues (included in the Performance Materials segment), as defined, and increases the amount of goodwill previously recorded, as the acquisition occurred prior to the revised guidance issued by the Financial Accounting Standards Board (ASC 805) for business combinations.